THE QUARTER OF CHANGE
The 4th quarter is when the yearlong numbers become real and leadership becomes accountable. It is the quarter that has the most expense cuts and reductions in employment. 4th quarter is when annual planning is completed, leadership is measured, and talent deployment is strategized for the upcoming year. It is the quarter for decisions to ensure the next year will meet or exceed expectations.
The pressure on leadership is increasing (recent turnover statistic was 32.3%, the highest in several years). Some of this is due to retirements and job changes, but the majority is forced resignations due to inability to meet expectations and move the company forward successfully in this competitive global economy.
Not everyone is a natural leader and the lure to increase visibility, gain power, and be rewarded is enticing and a confidence builder. The most common reasons why leaders fail are: (1) become self-serving and do not support their team; (2) will not delegate tasks to develop learning (become stressed out with work overload and create turnover of staff); (3) stop directing people forward; (4) become too political or arrogant; (5) become resistant to change and cannot adapt their style to a new environment (more reactive than proactive); and/or (6) do not communicate well with external and internal stakeholders.
The challenge for most organizations is how do you go about finding the right leader for the right job at the right time? This requires planning and setting realistic expectations. First step is to define the search criteria. Sounds simple; however, we've found that a high percentage of all exempt searches are altered from initial scope, because hiring authorities are too inwardly focused and subconsciously not aligned with the goals of the role and the needs of the business. Bishop partners with clients to create a complete and detailed description of core responsibilities, definition of opportunities to contribute, reporting structure, resources, client/candidate expectations, hard and soft skill requirements, and compensation. Before starting the search we want to make sure all parties have strategically evaluated the search and defined the interview process.
We are ready to help your organization develop the strategy to hire the right person, for the right role, at the right time.
Thanks to our colleagues at Bohan & Bradstreet for this perspective.